Moritz-Pfeifer/CentralBankRoBERTa-sentiment-classifier
Text Classification
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Updated
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The dataset generation failed because of a cast error
Error code: DatasetGenerationCastError
Exception: DatasetGenerationCastError
Message: An error occurred while generating the dataset
All the data files must have the same columns, but at some point there are 1 missing columns ({'Unnamed: 0'})
This happened while the csv dataset builder was generating data using
hf://datasets/Moritz-Pfeifer/CentralBankCommunication/Audiences/FED_prelabelled.csv (at revision 2373dd04781da7d29845fa74f3579c6e7d78e8a7)
Please either edit the data files to have matching columns, or separate them into different configurations (see docs at https://hf.co/docs/hub/datasets-manual-configuration#multiple-configurations)
Traceback: Traceback (most recent call last):
File "/src/services/worker/.venv/lib/python3.9/site-packages/datasets/builder.py", line 2011, in _prepare_split_single
writer.write_table(table)
File "/src/services/worker/.venv/lib/python3.9/site-packages/datasets/arrow_writer.py", line 585, in write_table
pa_table = table_cast(pa_table, self._schema)
File "/src/services/worker/.venv/lib/python3.9/site-packages/datasets/table.py", line 2302, in table_cast
return cast_table_to_schema(table, schema)
File "/src/services/worker/.venv/lib/python3.9/site-packages/datasets/table.py", line 2256, in cast_table_to_schema
raise CastError(
datasets.table.CastError: Couldn't cast
Parsed_Text: string
label: double
-- schema metadata --
pandas: '{"index_columns": [{"kind": "range", "name": null, "start": 0, "' + 496
to
{'Unnamed: 0': Value(dtype='int64', id=None), 'Parsed_Text': Value(dtype='string', id=None), 'label': Value(dtype='int64', id=None)}
because column names don't match
During handling of the above exception, another exception occurred:
Traceback (most recent call last):
File "/src/services/worker/src/worker/job_runners/config/parquet_and_info.py", line 1321, in compute_config_parquet_and_info_response
parquet_operations = convert_to_parquet(builder)
File "/src/services/worker/src/worker/job_runners/config/parquet_and_info.py", line 935, in convert_to_parquet
builder.download_and_prepare(
File "/src/services/worker/.venv/lib/python3.9/site-packages/datasets/builder.py", line 1027, in download_and_prepare
self._download_and_prepare(
File "/src/services/worker/.venv/lib/python3.9/site-packages/datasets/builder.py", line 1122, in _download_and_prepare
self._prepare_split(split_generator, **prepare_split_kwargs)
File "/src/services/worker/.venv/lib/python3.9/site-packages/datasets/builder.py", line 1882, in _prepare_split
for job_id, done, content in self._prepare_split_single(
File "/src/services/worker/.venv/lib/python3.9/site-packages/datasets/builder.py", line 2013, in _prepare_split_single
raise DatasetGenerationCastError.from_cast_error(
datasets.exceptions.DatasetGenerationCastError: An error occurred while generating the dataset
All the data files must have the same columns, but at some point there are 1 missing columns ({'Unnamed: 0'})
This happened while the csv dataset builder was generating data using
hf://datasets/Moritz-Pfeifer/CentralBankCommunication/Audiences/FED_prelabelled.csv (at revision 2373dd04781da7d29845fa74f3579c6e7d78e8a7)
Please either edit the data files to have matching columns, or separate them into different configurations (see docs at https://hf.co/docs/hub/datasets-manual-configuration#multiple-configurations)Need help to make the dataset viewer work? Open a discussion for direct support.
Unnamed: 0
int64 | Parsed_Text
string | label
int64 |
|---|---|---|
0 | the unemployment rate last year averaged just under 4 percent the lowest such annual figure since 1969 | 0 |
1 | in addition the end of extended unemployment insurance benefits
and other factors likely have decreased the natural rate of unemployment that is our target | 0 |
2 | for persons with only a high school diploma both the rates of j oblessness and the disparity between t he rate for blacks and that for
whites were greater an unemployment rate of 85 percent for blacks versus 4 percent for whites | 0 |
3 | but once the shortterm unemployed pool is depleted then the longterm unemployed will become more relevant to the labor market supply so their impact on wages and the labor market will likely increase as the labor market tightens | 0 |
4 | this is almost the same level as the structural unemployment rate which is
estimated to be around 35 percent | 0 |
5 | if we include those in labour market
policy measures unemployment still amounts to almost 7 which indicates about 3 more
unemployed now than in the 1970s and 1980s | 0 |
6 | the unemployment rate is almost 1 percentage point lower than it was a
year ago but we are still far from full employment | 0 |
7 | if these structural conditions change over time the long run
sustainable rate of unemployment will also change | 0 |
8 | the unemployment rate has come down to 36 percent for the first time in nine years | 0 |
9 | euro area unemployment declined to 81 in august its lowest level in almost ten years | 0 |
10 | the unemployment
rate has fallen from a peak of 84 to 6 | 0 |
11 | given our forecasts for labour force growth this implies that the unemployment rate will drop to 49 per cent this year and 47 per cent next year6
so our central forecasts indicate that the current economic prospects for the irish economy are quite robust | 0 |
12 | the severely adverse scenario is anticipated to feature an unemployment rate over the first six to eight quarters of the scenario that increases between 3 percentage points and 5 percentage points which is the amount by which unemployment has increased in the most recent three severe recessions | 0 |
13 | the rate of unemployment is likely to
rise further | 0 |
14 | youth unemployment still contrasted sharply
with overall unemployment | 0 |
15 | unemployment is at historically low levels | 0 |
16 | moreover t he unemployment rate
has been declining and is in the range of 30 35 percent for the first tim e in 18 years since
1997 | 0 |
17 | the unemployment rate has moved up a little over recent months and wage growth remains subdued | 0 |
18 | this number is much larger than we would expect at 67 percent unemployment based on past experience and the existence of such a large pool of partly unemployed workers is a sign that labor conditions are worse than indicated by the unemployment rate | 0 |
19 | the social safety net must guarantee adequate income support to anyone who loses a job
and is actively seeking another | 0 |
20 | the time lag between gdp and unemployment also appears to have increased during the 2000s | 0 |
21 | on the
other hand the unemployment rate albeit falling still remains above 10 amid a continuous
2 bis central bankers speeches
increase in the participation rate in the labour force since the crisis | 0 |
22 | in addition the unemployment rate is not the only gauge of labor market slack and other measures have been suggesting there is some room to go | 0 |
23 | in america the unemployment rate peaked at 10 per cent in october 2009 and is now at 5½ per cent | 0 |
24 | registered unemployment has remained steady at
about 2½ per cent since the beginning of 1998 | 0 |
25 | the unemployment rate currently at around 12 remains unacceptably high | 0 |
26 | if these jobless workers were to become less employable the natural
rate of unemployment might rise or to the extent that they leave the labor force we could
see a persistently lower rate of labor force participation | 0 |
27 | in the event the
unemployment rate in the uk peaked at 85 or 27 million people | 0 |
28 | the unemployment rate is expected to keep falling in 2016 although at a slow pace that should pick up in 20172018 | 0 |
29 | in fact spanish data in may showed unemployment falling to just under 20 per cent for the first time since the global financial crisis | 0 |
30 | as i noted earlier the unemployment rate is now at a fiveyear low of 434 percent | 0 |
31 | for example the cha nge in the unemployment rate in a county can
be used as a proxy for disruptions in family incomes and subsequent financial stress | 0 |
32 | in the second quarter of 2009 the unemployment rate unfortunately increased to 236 per cent | 0 |
33 | and yet as i said most of them have singlefigure unemployment rates at less than half the spanish rate | 0 |
34 | this can also be seen by
the comparatively large number of longterm unemployed | 0 |
35 | finally you can see unemployment by historical standards is quite low | 0 |
36 | the recent developments in nominal wages have been mostly consistent with those suggested by the wage phillips curve which shows the historical relationship between the wage growth rate and the unemployment rate | 0 |
37 | the unemployment rate for those without a high school diploma is 112 percent | 0 |
38 | second labor market conditions are becoming tighter as indicated by the decline in the unemployment rate | 0 |
39 | but it is not unreasonable to expect this margin of
potential hours worked to move in line with unemployment | 0 |
40 | as a result the unemployment rate is likely to decline over the near term at a very gradual pace if at all | 0 |
41 | youth unemployment has more than doubled i n some countries
the rise of youth unemployment since the start of the crisis is stupefying | 0 |
42 | indeed although i expect that growth will pick up and unemployment will decline somewhat next year we cannot rule out the possibility that unemployment might rise
further in the near term creating added risks for the recovery | 0 |
43 | registered unemployment is projected to remain at about todays level to the end of the year | 0 |
44 | in france its the opposite less inequality but higher unemployment | 0 |
45 | the labor market has been tight and the unemployment rate was 35 percent declining to roughly the same level as the structural unemployment rate | 0 |
46 | moreover the unemployment rate has already dropped to around 3 percent a level closer
to the natural unemployment rate and along with the decline in the working age population
the labor shortage is increasingly evident | 0 |
47 | in the unit ed states employment levels have continued
to decline during the autumn with unemployment rising to approximately 10 per cent | 0 |
48 | as the economy strengthens prospects for labor markets will continue to improve with the unemployment rate descending to between 7 to 7½ percent by the end of
2012 | 0 |
49 | we expect the unemployment rate to decline further to an average of 52 per cent next year down from 67 per cent last year and the 2012 peak of 155 percent | 0 |
50 | when estimating the sustainable rate of unemployment it is also important to include the assessed effects of labourmarket reforms forslund 2008 | 0 |
51 | ohios unemployment rate has declined even more during the recovery than the nation as a whole and at 52 percent in may it was somewhat below the us average in that month | 0 |
52 | current conditions in the labor market
as i noted the national unemployment rate has declined markedly during the economic recovery | 0 |
53 | the unemployment rate remained low at 55¼ per cent | 0 |
54 | employment has steadily increasedand unemployment has fallen to its lowest level for 25 years | 0 |
55 | the population aged over 15 that are working or are available for work | 0 |
56 | at present unemployment is at a higher level than it was prior to the 1990s crisis | 0 |
57 | chart 3 plots these estimated compositional effects on average wage growth against the
change in unemployment | 0 |
58 | our expectation is that this pattern of job creation and of gradual reduction in the unemployment rate will continue although perhaps somewhat more slowly | 0 |
59 | despite this rather tepid increase in jobs the unemployment rate fell a
cumulative 05 percentage points from september to december | 0 |
60 | it is projected that unemployment in the us could soon reach doubledigits | 0 |
61 | at a time that us unemployment is very high this is a particularly unacceptable outcome | 0 |
62 | unemployment in the eu and the euro area has reached historic levels
especially amongst the youth | 0 |
63 | employment growth has also remained firm although an increasing mismatch between the number of unemployed and job vacancies points towards more slack in the labour market | 0 |
64 | the unemployment rate further fell to 81 per cent in 2022q2 from 87 per cent in 2022q1 | 0 |
65 | the unemployment rate remained elevated in may at 58 percent and this figure understates the shortfall in employment particularly as participation in the labor market has not moved up from the low rates that have prevailed for most of the past year | 0 |
66 | however the unemployment rate is an inadequate indicator of
labour market slack particularly when the participation rate fluctuates | 0 |
67 | however the unemployment rate continues to be high and hence the employment and income situation of
households overall still remains severe | 0 |
68 | in particular if the unemployment rate were already below its longerrun natural rate as may be the case currently the impact on wage growth and price inflation would still likely take some time to become evident | 0 |
69 | improved matching is reducing the natural rate of unemployment | 0 |
70 | the biggest concern is the job market in particular youth unemployment | 0 |
71 | i expect the unemployment rate to fall slightly below 35 percent next year the lowest level in nearly 50 years | 0 |
72 | it is true that even without the great recession demographic forces would have led to some
decline in the employment topopulation ratio since 2007 | 0 |
73 | as shown in figure 1 the unemployment rate rose from around 5 percent in the spring of 2008 to about 10 percent
by the autumn of 2009 and has stayed well above 9 percent since then | 0 |
74 | historically there has been a clearly negative relationship between unemployment and wage shar es | 0 |
75 | our central forecast is for the unemployment rate to decline to below 4 per cent later this year and remain below 4 per cent next year | 0 |
76 | the unemployment response is even more lagged remaining
steady for almost 2 years before increasing | 0 |
77 | the unemployment rate has declined and wage growth should firm as remaining slack diminishes | 0 |
78 | meanwhile the latest
registered unemployment rate stands at 42 in june | 0 |
79 | unemployment in the us above
8 per cent has been persistently high | 0 |
80 | a low employment rate implies that a significant part of the working age population is either unemployed or inactive outside the workforce | 0 |
81 | of course this effect may be larger if rigid labour market institutions complicate the task of finding a new job while the literature also finds that the level of the tax wedge or the inadequate design of unemployment benefits are important drivers of structural unemployment | 0 |
82 | formal employment has maintained a positive trend and the unemployment rate has fallen to its lowest level since 2009 even though it remains above precrisis averages | 0 |
83 | while the various jobretention schemes introduced by governments have so far been effective in cushioning the fall in income and preventing a more precipitous decline in employment and the numbers of people enrolled in those schemes are falling as activity picks up keeping job support schemes in place is critical to avoid a sharp increase in unemployment later in the year | 0 |
84 | with sustained strong labour demand the level of long
term unemployment ie | 0 |
85 | and once the unemployment rate starts falling it rarely returns to the previous low | 0 |
86 | the unemployment rate was 63 percent in april about 14 percentage points below where it was a year ago | 0 |
87 | the unemployment rate for us workers with less than a high school education almost doubled rising from 10 to 19 per cent | 0 |
88 | in the past four months
the unemployment rate has fallen about threequarters of a percentage point | 0 |
89 | unemployment is almost at the same level as in the usa | 0 |
90 | in particular the labor
market has been gradually improving and the unemployment rate has declined somewhat | 0 |
91 | however at the same time some countries have experienced only moderate increases in the
youth unemployment rate and in germany it has actually fallen from 11 to 8 | 0 |
92 | the unemployment rate fell to 59 percent marking its lowest level since july 2008 and well below the 67 percent we experienced in december 2013 | 0 |
93 | the recovery path remains fragile and unemployment is too high particularly in europe | 0 |
94 | we were experiencing the longest expansion on record and unemployment had reached historic lows | 0 |
95 | there are obviously cases where older people have difficulty finding work but the data show that the unemployment rate or those who despair of finding a job did not increase as a result of raising the retirement age | 0 |
96 | although the unemployment rate is near longerrun norms other measures of labor utilization are not | 0 |
97 | there
are two other elements to consider the labour force participation rate and the demographic structure | 0 |
98 | activity has been close to a normal level and unemployment has remained low | 0 |
99 | the challenges facing the employment situation are underscored by the fact that more than
40 percent of the unemployed or some 6 million people have been out of work for 27 weeks or longer | 0 |
End of preview.
This dataset contains two manually pre-labeled datasets:
In the economic agents dataset, we labeled 6,205 randomized sentences from a Fed database containing speeches (1948-2023) as speaking either about households, firms, the financial sector, the government, or the central bank itself.
In the sentiment dataset, we labeled 6,683 randomized sentences from the same database, which are either labeled as being positive (1) or negative (0).
The datasets were used to train an agent classifier and a sentiment classifier.
| Please cite this model as Pfeifer, M. and Marohl, V.P. (2023) "CentralBankRoBERTa: A Fine-Tuned Large Language Model for Central Bank Communications". Journal of Finance and Data Science (forthcoming) https://doi.org/10.1016/j.jfds.2023.100114 | |
|
Moritz Pfeifer Institute for Economic Policy, University of Leipzig 04109 Leipzig, Germany pfeifer@wifa.uni-leipzig.de |
Vincent P. Marohl Department of Mathematics, Columbia University New York NY 10027, USA vincent.marohl@columbia.edu |
BibTeX entry and citation info
@article{Pfeifer2023,
title = {CentralBankRoBERTa: A fine-tuned large language model for central bank communications},
journal = {The Journal of Finance and Data Science},
volume = {9},
pages = {100114},
year = {2023},
issn = {2405-9188},
doi = {https://doi.org/10.1016/j.jfds.2023.100114},
url = {https://www.sciencedirect.com/science/article/pii/S2405918823000302},
author = {Moritz Pfeifer and Vincent P. Marohl},
}
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